Duolingo, Inc.

Duolingo, Inc. (DUOL) priced its initial public offering on Jul 28, 2021 at $102.00 per share, above its $95.00–$100.00 range, raising $520.8M, and listed on Nasdaq Global Select. At the IPO price its market capitalization was about $3.66B. Goldman Sachs was lead-left underwriter, joined by Allen & Company, BofA Securities and Barclays and others. Latham & Watkins advised the company and Skadden, Arps advised the underwriters.

Duolingo, Inc. operates a mobile learning platform whose flagship app is used to learn languages. The app has over 500 million downloads and ranks as the top-grossing app in the Education category on Google Play and the Apple App Store.

Status

IPO

Ticker

DUOL

Exchange

Nasdaq Global Select

Priced

Jul 28, 2021

IPO price

$102.00

Price range

$95.00–$100.00

Raised

$520.8M

Market cap at IPO price

$3.66B

First filed

Jun 28, 2021

Underwriters

Goldman Sachs, Allen & Company, BofA Securities, Barclays, Evercore ISI, William Blair, KeyBanc, Citizens JMP, Piper Sandler and Raymond James

Company counsel

Latham & Watkins

Underwriters' counsel

Skadden, Arps

Sector

Technology

Country / state

PA

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.